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Philippine Deposit Insurance Corporation
The Philippine Deposit Insurance Corporation ( fil, Korporasyon ng Segurong Deposito ng Pilipinas, abbreviated as PDIC) is a Philippine government-run deposit insurance fund. It was established on June 22, 1963, by Republic Act 3591. It guarantees deposits up to . The primary function of PDIC is to protect small investors/depositors and build strong confidence in banking. PDIC receives guidance from the International Association of Deposit Insurers.{{Cite web , date=June 16, 2022 , title=Bank Deposits - Your Partner in Progress , url=https://www.sunstar.com.ph/article/1932146/cebu/business/saving-in-banksmdashgateway-to-financial-security , access-date=August 30, 2022 , website=Sunstar Cebu , language=English History Establishment On June 22, 1963, PDIC was created through Republic Act 3591, which provided: * Deposit insurance coverage for banks * Maximum deposit insurance of P10,000 per depositor * Maximum assessment rate of 1/12 of 1% assessable deposits per annum * Volunta ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Finance Industry
Financial services are the economic services provided by the finance industry, which encompasses a broad range of businesses that manage money, including credit unions, banks, credit-card companies, insurance companies, accountancy companies, consumer-finance companies, stock brokerages, investment funds, individual asset managers, and some government-sponsored enterprises. History The term "financial services" became more prevalent in the United States partly as a result of the GrammLeachBliley Act of the late 1990s, which enabled different types of companies operating in the U.S. financial services industry at that time to merge. Companies usually have two distinct approaches to this new type of business. One approach would be a bank that simply buys an insurance company or an investment bank, keeps the original brands of the acquired firm, and adds the acquisition to its holding company simply to diversify its earnings. Outside the U.S. (e.g. Japan), non-financial s ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Nabua
Nabua, officially the Municipality of Nabua (Rinconada Bikol: ''Banwāan ka Nabua''; Tagalog: ''Bayan ng Nabua''), is a 1st class municipality in the province of Camarines Sur, Philippines. According to the 2020 census, it has a population of 86,490 people. Nabua is the mother town of Iriga City, Buhi, Bato, Balatan, Bula and Baao in Camarines Sur. Nabua has five districts: Antacudos, Binoyoan, Caobnan, Lupa and Sabang. Nabua is home of the modern kuntaw, and jota rojana. Past Mayors Atty. Fernando "Fer" Simbulan , 2007-2010, 2019–2022, 2022-present Delia "Del" Castro-Simbulan , 2010-2013, 2013-2016, 2016–2019 Etymology The Municipality of Nabua traces the historical origin of its name way back during the Spanish Colonization. It was said that in 1571, an Augustinian Friar named Fray Alonzo Gimenez reached one of the rancherias called "Lupa" which was then under Datu Panga from Borneo. The good friar found persons inside the said rancheria cutting coconuts. He was ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Department Of Finance (Philippines)
The Department of Finance (DOF; fil, Kagawaran ng Pananalapi) is the executive department of the Philippine government responsible for the formulation, institutionalization and administration of fiscal policies, management of the financial resources of the government, supervision of the revenue operations of all local government units, the review, approval and management of all public sector debt, and the rationalization, privatization and public accountability of corporations and assets owned, controlled or acquired by the government. History The Department of Finance was established on March 17, 1897, at the same time that the Revolutionary Government was founded in Naic, Cavite. General Baldomero Aguinaldo was appointed Director of Finance by General Emilio Aguinaldo. The Finance Director became the Secretary of the Treasury under the first constitutional republican government, the Biak-na-Bato Republic. In 1901, the Department of Finance and Justice was formally organized ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banks Established In 1963
A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Because banks play an important role in financial stability and the economy of a country, most jurisdictions exercise a high degree of regulation over banks. Most countries have institutionalized a system known as fractional reserve banking, under which banks hold liquid assets equal to only a portion of their current liabilities. In addition to other regulations intended to ensure liquidity, banks are generally subject to minimum capital requirements based on an international set of capital standards, the Basel Accords. Banking in its modern sense evolved in the fourteenth century in the prosperous cities of Renaissance Italy but in many ways functioned as a continuation of ideas and concepts of credit and lending that had their roots in the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Finance In The Philippines
Finance is the study and discipline of money, currency and capital assets. It is related to, but not synonymous with economics, the study of production, distribution, and consumption of money, assets, goods and services (the discipline of financial economics bridges the two). Finance activities take place in financial systems at various scopes, thus the field can be roughly divided into personal, corporate, and public finance. In a financial system, assets are bought, sold, or traded as financial instruments, such as currencies, loans, bonds, shares, stocks, options, futures, etc. Assets can also be banked, invested, and insured to maximize value and minimize loss. In practice, risks are always present in any financial action and entities. A broad range of subfields within finance exist due to its wide scope. Asset, money, risk and investment management aim to maximize value and minimize volatility. Financial analysis is viability, stability, and profitability asse ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bangko Sentral Ng Pilipinas
The Bangko Sentral ng Pilipinas (; commonly abbreviated as BSP in both Filipino and English) is the central bank of the Philippines. It was established on July 3, 1993, pursuant to the provision of Republic Act 7653 or the New Central Bank Act of 1993 as amended by Republic Act 11211 or the New Central Bank Act of 2019. History American era and World War II In 1900, the First Philippine Commission passed Act No. 52, which placed all banks under the Bureau of the Treasury and authorizing the Insular Treasurer to supervise and examine banks and all banking activity. In 1929, the Department of Finance, through the Bureau of Banking, took over bank supervision. By 1933, a group of Filipinos had conceptualized a central bank for the Philippine Islands. It came up with the rudiments of a bill for the establishment of a central bank after a careful study of the economic provisions of the Hare–Hawes–Cutting Act, which would grant Philippine independence after 12 years, bu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Land Bank Of The Philippines
Land Bank of the Philippines (LBP; often referred to simply as LandBank), is a government-owned bank in the Philippines with a special focus on serving the needs of farmers and fishermen. While it provides the services of a universal bank, it is officially classified as a "specialized government bank" with a universal banking license. LandBank is the second largest bank in the Philippines in terms of assets and is the largest government-owned bank. It is also one of the biggest government-owned and controlled corporations and banking institutions in the Philippines along with the Development Bank of the Philippines (DBP), Overseas Filipino Bank (OFW Bank), and Al-Amanah Islamic Investment Bank of the Philippines. Unlike most Philippine banks, LandBank has an extensive rural branch network with 409 Branches and Extension Offices, 46 Lending Centers and 2,188 ATMs (as of February 2020). It services many rural sector clients in areas where banking is either limited to rural bank ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
World Bank
The World Bank is an international financial institution that provides loans and grants to the governments of low- and middle-income countries for the purpose of pursuing capital projects. The World Bank is the collective name for the International Bank for Reconstruction and Development (IBRD) and International Development Association (IDA), two of five international organizations owned by the World Bank Group. It was established along with the International Monetary Fund at the 1944 Bretton Woods Conference. After a slow start, its first loan was to France in 1947. In the 1970s, it focused on loans to developing world countries, shifting away from that mission in the 1980s. For the last 30 years, it has included NGOs and environmental groups in its loan portfolio. Its loan strategy is influenced by the Sustainable Development Goals as well as environmental and social safeguards. , the World Bank is run by a president and 25 executive directors, as well as 29 various vice ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
International Association Of Deposit Insurers
The International Association of Deposit Insurers (IADI) was formed on 6 May 2002 with the purpose of sharing deposit insurance expertise with the world and contributing to the stability of financial systems as the standard setter for deposit insurance with a global and expanding membership. IADI is a non-profit organisation constituted under Swiss Law and a separate legal entity domiciled at the Bank for International Settlements (BIS) in Basel, Switzerland. About IADI The International Association of Deposit Insurers (IADI) is the global standard-setting body for deposit insurance systems. It contributes to the stability of financial systems by enhancing the effectiveness of deposit insurance and promoting international cooperation on deposit insurance and bank resolution arrangements in active partnership with other international organisations. IADI draws upon its membership to provide guidance on the establishment or enhancement of effective deposit insurance systems, as well ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Makati
Makati ( ), officially the City of Makati ( fil, Lungsod ng Makati), is a 1st class highly urbanized city in the National Capital Region of the Philippines. Makati is the financial center of the Philippines; it has the highest concentration of multinational and local corporations in the country. Major banks, corporations, department stores as well as foreign embassies are based in Makati. The biggest trading floor of the Philippine Stock Exchange used to be situated along the city's Ayala Avenue, before the stock exchange moved their headquarters to the Bonifacio Global City in Taguig. Makati is also known for being a major cultural and entertainment hub in Metro Manila. According to the 2020 census, it has a population of 629,616 people making it as the 17th most populous city in the country and ranked as the 41st most densely populated city in the world with 19,336 inhabitants per square kilometer. Although its population is just above half a million, the daytime populat ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Deposit Insurance
Deposit insurance or deposit protection is a measure implemented in many countries to protect bank depositors, in full or in part, from losses caused by a bank's inability to pay its debts when due. Deposit insurance systems are one component of a financial system safety net that promotes financial stability. Overview Banks are allowed (and usually encouraged) to lend or invest most of the money deposited with them instead of safe-keeping the full amounts (see fractional-reserve banking). If many of a bank's borrowers fail to repay their loans when due, the bank's creditors, including its depositors, risk loss. Because they rely on customer deposits that can be withdrawn on little or no notice, banks in financial trouble are prone to bank runs, where depositors seek to withdraw funds quickly ahead of a possible bank insolvency. Because banking institution failures have the potential to trigger a broad spectrum of harmful events, including economic recessions, policy makers mainta ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Philippines
The Philippines (; fil, Pilipinas, links=no), officially the Republic of the Philippines ( fil, Republika ng Pilipinas, links=no), * bik, Republika kan Filipinas * ceb, Republika sa Pilipinas * cbk, República de Filipinas * hil, Republika sang Filipinas * ibg, Republika nat Filipinas * ilo, Republika ti Filipinas * ivv, Republika nu Filipinas * pam, Republika ning Filipinas * krj, Republika kang Pilipinas * mdh, Republika nu Pilipinas * mrw, Republika a Pilipinas * pag, Republika na Filipinas * xsb, Republika nin Pilipinas * sgd, Republika nan Pilipinas * tgl, Republika ng Pilipinas * tsg, Republika sin Pilipinas * war, Republika han Pilipinas * yka, Republika si Pilipinas In the recognized optional languages of the Philippines: * es, República de las Filipinas * ar, جمهورية الفلبين, Jumhūriyyat al-Filibbīn is an archipelagic country in Southeast Asia. It is situated in the western Pacific Ocean and consists of around 7,641 islands t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
